While many were spewing Doom and Gloom about how Tether was a ticking time bomb, they were WRONG
See article below, Tether proved to be backed by US Dollars as they said they were.
https://coingape.com/tether-releases-transparency-report/
Why is this important?
Check out the article I wrote 5 months ago, explaining how the Tether scare falsly lowered Cryptos market cap. To sum it up quickly, in the good old days of the end of 2017. Back then eople would perform trades and when they though Crypto was going to pull back they would take a Tether position, thus keeping their money in a Crypto, therefore keeping the Market Cap up. Then after the Tether scare, people would instead trade their Bitcoin back into USD, thus lowering the Market Cap Artificially because they would just have this money in there USD wallets on their exchange with every intention of trading. Remember people want to keep their money in Crypto because once they go back to USD it is then Taxable, So this Tether News is Huge. Article Below:
https://steemit.com/bitcoin/@embomb701/teatherand-tax-law-changes-falsly-lower-market-cap-its-now-what-you-think-anti-fud-article-must-read
With this all being said, I am going to be setting up a trading bot using USDT basically trading against USDT (which stays at $1.00 ish), this should be very profitable, more on this later.
Bitcoin Hash Rate is at an All Time High (ATH), last time Bitcoin Hash Rate was at an ATH the price action followed suit:
http://bitcoinist.com/bitcoin-hashrate-hits-time-high-price-follow/
Other good news in the crypto space is South Korea trying looking to invest into public and private Blockchains:
https://cointelegraph.com/news/south-korean-gov-t-to-invest-over-200-mln-in-public-private-blockchain-initiatives.
South Korea has been one of the leaders in the Crypto-sphere, and this says that their government will be actively participating, they will be ahead of the rest of the world and others should follow their example in my opinion.
Benjamin Bilski says "Cryptocurrencies ‘Are the New, Direct Path to Financial Independence". 2 minute read:
Final thoughts- we have been in this correction since the end of December, we are now in the end of June. We saw the initial plummet, then we slowly dipped down to our current level:
While the Moving Averages don't say anything good yet, the RSI is toward the bottom which is good but the wedge forming is good. The TA here is not the great news, the actual news in the good news. The articles are starting to look more and more positive. Couple that with the ATH hash rate and boom we can go bull at any moment. However, the beginning will be slow gains, but I suspect 4th Quarter 2018 will be the time we see the true Bull Run.